To help people save more for their retirement, all employers are now required by law to provide a workplace pension scheme for certain staff and pay money into it.
All of our staff have to be enrolled into our pension scheme as long as they meet all of the following criteria:
- You earn over £192 per week (or £833 per month)
- You are aged 22 or over and
- You are under state pension age.
You can opt out of the pension scheme if you want to, but if you stay in you will have your own personal pension when you retire. Your pension will belong to you, even if you leave us in the future.
As your umbrella company, we will enroll you into our pension scheme provided by Welplan. You will receive an email from your Client Experience Manager providing you with the initial pension information.
The main benefit to you is that you can use salary sacrifice to contribute pre-taxed income to your pension. This means that you can pay a percentage of your salary into your pension, rather than paying employers NICs, employees NICs and income tax on the full amount.